The 10th Global Tourism Economy Forum • Macao 2023 (GTEF or the “Forum”) continued today (22 September) for the third day at the Galaxy International Convention Center. In the context of the United Nation’s 2030 Agenda for Sustainable Development, the 10th GTEF featured a series of enlightening discussion and exchange sessions. Distinguished speakers shed light on the sustainable development of the tourism and related industries in face of the new prospects.   Zero in on sustainable tourism development The 10th GTEF ran from 20 to 23 September. Representing Chief Executive of the Macao SAR, Secretary for Economy and Finance and Executive Chairman of GTEF, Lei Wai Nong, attended the Lunch of GTEF 2023 Partner Country Italy and delivered an address.   The Forum program on the third day was unveiled by a presentation on a research project jointly conducted by the World Tourism Organization (UNWTO) and GTEF, followed by a session held in cooperation with the UNWTO Regional Department for Asia and the Pacific, “Sustainability in Focus: Navigating the Future of Tourism in Asia”, where Regional Director for Asia and the Pacific at UNWTO, Harry Hwang Hae Guk, delivered a keynote speech to bring out the theme. In this session, Vice Chairman of the Global Tourism Economy Research Centre, Xu Jing, served as the moderator to lead panelists to share their insights into the long-term sustainability and development goals of the tourism industry as well as Asia’s contributions to the industry’s transformation. The panelists include Director of Macao Government Tourism Office and Vice Chairman of GTEF, Maria Helena de Senna Fernandes; Chairman of the Sri Lanka Tourism Development Authority, Priantha Fernando; Secretary of the Department of Tourism of the Philippines, Christina Garcia Frasco; and Secretary for Economic Cooperation of the Ministry of Foreign Affairs of Maldives, Hussain Niyaaz.    Refining and upgrading the tourism industry The session held in cooperation with the European Travel Commission (ETC) was themed around “A Renewed Vision: Reshaping Tourism in Europe”, where Asia Pacific Marketing Project Manager at the ETC, Ludivine Destrée, served as the moderator to lead panelists to share their viewpoints on refining and upgrading tourism development in Europe. The panelists include Group Director of Operations (COO) of Rocco Forte Hotels, Antonello de Medici; President ad interim and CEO of the Italian National Tourist Board, Ivana Jelinic; Director and President of Melco Resorts & Entertainment Limited, Evan Winkler; and Member of the European Parliament, Vice-Chair of the European Parliament’s Committee on Transport and Tourism, and Chairman of the Europe-China OBOR Culture & Tourism Development Committee, István Ujhelyi.   The session “Redefining City Tourism for the Next Decade” held in cooperation with the World Tourism Cities Federation (WTCF), was moderated by WTCF Deputy Secretary-General Yan Han, and invited panelists to a full-scale discussion on how city tourism can be upgraded and transformed in the new prospects. The panelists include Chief Economist of the Chongqing Municipal Commission of Culture and Tourism Development, Feng Yuliang; Managing Director of SJM Resorts, S.A., Daisy Ho Chiu Fung; Full Professor and Founding President of Modul University Vienna and Director of the WTCF Experts Committee, Karl Wöber; and President and Executive Director of Sands China Limited, Wilfred Wong.   Industry leaders share insights and experiences In the panel session “Bridging Nations Through Art and Culture”, international TV anchor Martina Fuchs hosted an in-depth discussion. The session started with a keynote speech by Chairman of Poly Culture Group Corporation Limited, Wang Bo, and featured panelists including Chairman of MondoMostre, Tomaso Radaelli, Chairman of Live Nation Spain, Pino Sagliocco, and Deputy Director of the Palace Museum, Wang Yuegong.   The last panel session in the morning, “Italy as a Destination for Asian Tourists”, invited panelists to share on why Italy can constantly rank among the top ten travel destinations in the world. The panelists include Minister of Tourism of Italy, Daniela Garnero Santanchè; CEO of Terme di Saturnia, Massimo Caputi; Chief Commercial Officer of Starhotels Group, Antonio Ducceschi; Deputy Director General of ALIS, Antonio Errigo; and National Sales Vice President of MSC Cruises Shipping Service (Shanghai) Ltd., William Wang.   In the afternoon, the 10th GTEF continued with the panel session “Tourism Makes People’s Lives Better”, which was held in cooperation with the China Chamber of Tourism (CCT). Moderated by Founder of the Chinese Artisan Conference, Zhao Pu, the session featured panelists including CCT President Ji Xiaodong; Executive Director & Co-CEO of Fosun International and Chairman of Fosun Tourism Group, Xu Xiaoliang, and Chief Marketing Officer of Wynn Macau, Limited, Zoe Zou. They shared their knowledge on refining and upgrading cultural tourism in this session.   Shaping the future of travel with technology In the panel session “Shaping the Future of Travel: The Transformative Power of Technology” held in cooperation with the World Tourism Alliance (WTA), WTA Vice Chair and Secretary-General Liu Shijun served as the moderator to lead a discussion on the interlinked and mutually beneficial relationship between technological innovation and tourism. Panelists in the discussion include Vice President of Tencent Cloud, Hu Xin; Chairman of Macau Pass Group Holdings Limited, John Sun; Senior Vice President of Trip.com Group, Wang Wei; and General Manager of Public Affairs for the Greater Bay Area at Douyin Group, Yan Hao.   Case sharing and fireside chat sessions This year, GTEF introduced case sharing and fireside chat sessions. In the case sharing session, Deputy Director of the Department of Economics and Management at Sun Yat-sen University, Bao Jigang, used the “Azheke Plan: A New Model for Rural Revitalization” as an example to illustrate how natural and cultural resources attract investments, while revitalizing the rural community for a better future by fostering tourism development.    In the “Fireside Chat: Conversations across Continents: Mountain and Wellness Tourism” held in cooperation with the International Mountain Tourism Alliance (IMTA), IMTA Vice Chairman & Secretary-General and GTEF Honorary Chairman He Yafei served as the moderator to lead the discussion on the prospects of mountain destinations and cooperation among the destinations. The panelists include Vice Chairman of the Global Tourism Economy Research Centre, Xu Jing, and Vice President of Fliggy Travel, Tong Teng.   For more information about the GTEF, please visit www.gte-forum.com and follow its official social media channels for the latest news: https://www.facebook.com/gteforum https://www.linkedin.com/company/global-tourism-economy-forum https://twitter.com/gteforum http://weibo.com/gteforumWeChat ID: GTEForum 01: Representing Chief Executive of the Macao SAR, Secretary for Economy and Finance and Executive Chairman of GTEF, Lei Wai Nong, addresses the Lunch of GTEF 2023 Partner Country Italy 02: Distinguished speaker delivers a keynote speech 03: Industry leaders and specialists exchange perspectives on sustainable tourism development  

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The 10th Global Tourism Economy Forum · Macao 2023 (GTEF or the “Forum”) achieved fruitful results after a series of innovative and inspiring high-quality exchanges and discussions, including keynote speeches, panel sessions, a special interview, a fireside chat, case sharing and business matching, over three days. The 10th GTEF culminated in success today (22 September), demonstrating once again Macao’s comprehensive strengths in hosting conventions as an international exchange platform while reinforcing its status as a world centre of tourism and leisure.   The closing ceremony of the 10th GTEF was held at the Galaxy International Convention Center. The major guests include Vice Chairman of the National Committee of the Chinese People’s Political Consultative Conference and Chairman of GTEF, Ho Hau Wah; Secretary-General of the World Tourism Organization (UNWTO), Zurab Pololikashvili; Secretary for Economy and Finance of the Macao SAR Government and Executive Chairman of GTEF, Lei Wai Nong, and Vice Chairman and Secretary-General of GTEF, Pansy Ho, among other personages.   Themed around “Destination 2030: Unlocking the Power of Tourism for Business and Development”, the 10th GTEF gathered over 100 ministers of culture and tourism, industry leaders, decision-makers, scholars and stakeholders from different tourism sectors. In the context of the United Nations’ 2030 Agenda for Sustainable Development, participants were encouraged to “think beyond tourism” and explore opportunities for the recovery of the global tourism economy. They discussed how to construct a resilient, high-quality and people-oriented environment for the tourism industry in the new normal through innovative and sustainable international cooperation.   The Forum facilitates new partnerships in tourism Secretary for Economy and Finance of the Macao SAR Government and GTEF Executive Chairman, Lei Wai Nong, stated in his closing remarks that the Forum featured dedicated sessions in collaboration with different organizations to zero in on the sustainable and high-quality development of the tourism industry, as well as tourism growth and innovation through technology application. From various angles, participants also examined the new opportunities for tourism in Mainland China, the Asia-Pacific region, and Europe. He added that in response to the goals set by the United Nations’ 2030 Agenda for Sustainable Development, the Forum values “thinking beyond tourism” with the aim to foster innovative tourism collaboration. Graced by the presence of personages and entities from different sectors, GTEF 2023 culminated in success as an internationally-renowned convention in Macao and an annual seminal event for the global tourism industry, garnering high recognition from across the global tourism industry and manifesting Macao’s capabilities and advantages in MICE. With great significance, the Forum reaches the milestone of decade-long success. Macao will hold on to its aspirations since the inaugural edition and march forward into the next wonderful decade together with all.   GTEF Vice Chairman and Secretary-General Pansy Ho expressed in her concluding remarks, “China advocates building a community with a shared future for mankind and sharing China’s opportunities with the rest of the world. In the past decade, we have attracted tourism industry practitioners across the globe to this international forum originating in China. We will take it to the international stage in the next decade, bringing GTEF to other parts of the world, raising both the voice and influence of China’s tourism industry internationally. We will continue to provide an equal and inclusive platform for stakeholders worldwide and inspire the global tourism industry with innovative ideas.”   Support the “1+4” strategy and keep pace with new development trends The Forum brought back the GTEF ∙ Investment and Financing Conference this year, which provided a valuable guide for Macao as the city seeks to establish a financial regulatory system aligned with international standards, explore new ways to leverage financial development as an enhancer for the development of the Greater Bay Area, and develop a modern financial industry that powers adequate economic diversification. The discussions also covered the four major industries, namely health and wellness, modern financial services, innovative technology, as well as culture and sports. The insightful perspectives will fuel Macao’s endeavors to enrich its offer as a world centre of tourism and leisure. By offering a diverse and multifunctional platform for international tourism exchanges and cooperation, the Forum fosters the “1+4” industry development for adequate economic diversification in line with the new prospects of Macao–Hengqin integration.   Since its first edition in 2012, GTEF has engaged over 14,000 on-site participants and over 2.3 million online participants from 95 countries/regions across six continents including Asia, Europe, South America, North America, Africa and Oceania in its past ten editions. The event has welcomed 215 delegations from various Chinese provinces/regions. 706 world-renowned speakers including ministerial officials, business leaders, experts and scholars have shared their insights at the Forum.   For more information about the GTEF, please visit www.gte-forum.com and follow its official social media channels for the latest news: https://www.facebook.com/gteforum https://www.linkedin.com/company/global-tourism-economy-forum https://twitter.com/gteforum http://weibo.com/gteforumWeChat ID: GTEForum 01: 10th Global Tourism Economy Forum · Macao 2023 culminates in success 02: Secretary for Economy and Finance of the Macao SAR Government and GTEF Executive Chairman, Lei Wai Nong, gives closing remarks 03: GTEF Vice Chairman and Secretary-General Pansy Ho makes concluding remarks

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Following the grand opening of the 10th Global Tourism Economy Forum • Macao 2023 (GTEF or the “Forum”) this morning (21 September) at the Galaxy International Convention Center in Macao, the program officially began. Ministers of culture and tourism, industry leaders, decision-makers, scholars and stakeholders from different tourism sectors engaged in in-depth discussions around the theme “Destination 2030: Unlocking the Power of Tourism for Business and Development”.   Discussing the trends of the tourism economy The 10th GTEF features 14 panel sessions, allowing participants to spot new trends and opportunities arising in the tourism economy. In the afternoon (21 September), the 10th GTEF started with a session held in collaboration with the World Tourism Organization (UNWTO), moderated by Special Advisor to the UNWTO Secretary-General and Founder & President of ANITA MENDIRATTA & ASSOCIATES, Anita Mendiratta. In this session, representatives from public and private tourism sectors had an in-depth exchange of views on the topic “Towards Destination 2030: Investing in People, Planet, and Prosperity”, and discussed how to achieve growth and sustainable development in the tourism industry. The panelists include CEO of Arsenale SPA, Paolo Barletta; Executive Director of UNWTO, Natalia Bayona; Minister of Tourism of Brazil, Celso Sabino de Oliveira; Secretary of State for Tourism, Commerce and Services of Portugal, Nuno Fazenda; Secretary of State for Tourism of Spain, Rosana Morillo; Minister of Tourism of Italy, Daniela Garnero Santanchè, and President of Puy du Fou, Nicolas de Villiers.   The Next Decade for China and the world President of the China Tourism Academy, Dai Bin, delivered a keynote speech on “Tourism in the Next Decade: China and the World”. President Dai delved into China’s tourism economy, examining its lessons ranging from a focus on domestic tourism and fostering niche markets such as urban leisure and rural tourism to the advancements in tourism infrastructure, digital innovation, and green initiatives. In doing so, Mr. Dai showcased how trends in China are shaping the global tourism landscape.   The session held in cooperation with the World Travel & Tourism Council (WTTC) was themed around “Leading the Way: Industry-Driven Innovations for High-Quality Development”. Moderated by WTTC Senior Vice President Maribel Rodriguez, the session invited Vice President of Industry and Regulatory Affairs, Amadeus IT Group, Svend Leirvaag; Executive Vice President of China Southern Air Holding Company Limited, Qu Guangji; and Vice President of Jinjiang International Group, Zhou Wei, as panelists.   After that, Vice Chairman of the Global Tourism Economy Research Centre, Xu Jing, presided over a special interview on “New Features of Chinese Outbound Tourism”, where Director of Check-in Asia in Malaysia, Gary Bowerman, elaborated on the latest trends in the tourism market of Mainland China.   Insights about the tourism potential of the Greater Bay Area The last panel session on the first day was powered by China Daily and moderated by Multimedia Director of China Daily Asia Pacific, DJ Clark. This session began with a keynote speech by Chairman of China Tourism Group Corporation Limited, Chen Yin. The speakers include Dean and Chair Professor and Walter & Wendy Kwok Family Foundation Professor in International Hospitality Management at the School of Hotel and Tourism Management of the Hong Kong Polytechnic University, Kaye Chon, and Executive Director of the European Travel Commission and Honorary Vice Chairman of GTEF, Eduardo Santander. Centering around the topic “Unlocking the Potential of the Greater Bay Area with Special Focus on Macao-Hengqin Integration”, they shared insights into this huge development opportunity.   Investment and Financing Conference held concurrently Multiple parallel sessions took place today. The 2nd GTEF ∙ Investment and Financing Conference presented the “Introduction and Sharing of Macao Hoteliers & Innkeepers Enterprises” and “Introduction and Sharing of Macao Cultural and Tourism Innovation Enterprises” in the morning, followed by the “Presentation of Tourism Investment Institutions” and “Business Meetings” in the afternoon, with the aim of expanding investment and cooperation channels for members of the local and global cultural tourism industry.   Live broadcast engages over 1 million online views GTEF 2023 is convened in a hybrid online-offline format and is live broadcast throughout the event. Replays will be available for European and US time zones so that participants around the world will be able to replay the brilliant remarks by 80 ministerial officials, leaders in business and cultural tourism sectors, experts and scholars, through cross-sector platforms that transcend geographical and temporal boundaries. The Forum engaged over 1 million online views in total on the first day.   More insightful discussions to unfold The third day’s program tomorrow (22 September) will feature discussions on the innovative measures for high-quality and sustainable tourism development from different perspectives. Inspiring activities in the morning include “Sustainability in Focus: Navigating the Future of Tourism in Asia”, a session held in cooperation with the UNWTO Regional Department for Asia and the Pacific; “A Renewed Vision: Reshaping Tourism in Europe”, a session held in cooperation with the European Travel Commission; “Redefining City Tourism for the Next Decade”, a session held in cooperation with the World Tourism Cities Federation; “Bridging Nations through Art and Culture”; and “Italy as a Destination for Asian Tourists”.   For more information about the GTEF, please visit www.gte-forum.com and follow its official social media channels for the latest news: https://www.facebook.com/gteforum https://www.linkedin.com/company/global-tourism-economy-forum https://twitter.com/gteforum http://weibo.com/gteforumWeChat ID: GTEForum   01. Setting-the-Scene Keynotes   02. GTEF panel sessions offer insights into tourism economic trends   03. The Forum is live broadcast throughout the event

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The 10th Global Tourism Economy Forum • Macao 2023 (GTEF or the “Forum”) was inaugurated this morning (21 September). The organizer of the Forum, the Secretariat for Economy and Finance of the Macao Special Administrative Region Government, hosted the GTEF 10th Anniversary Lunch at Wynn Palace to celebrate a decade of great harvest.   Macao’s unique signature brand Secretary for Economy and Finance of the Macao SAR Government and Executive Chairman of GTEF, Lei Wai Nong, expressed in his speech that through the Forum, the Macao SAR Government endeavors to build a diverse and multifunctional platform for international exchange and cooperation, uniting the effort of the global tourism industry to proffer insights and rise up to the opportunities and challenges in building a better future for the global tourism economy and facilitating innovative cooperation. After a decade of hard work, the Macao SAR Government has developed GTEF into a major event for the international tourism industry and a signature brand of Macao.   Chair of the World Tourism Alliance and GTEF Honorary Chairman, Zhang Xu, also delivered a congratulatory speech at the GTEF 10th Anniversary Lunch. He expressed that over the past decade, the Forum has capitalized on Macao’s geographical advantages as an event that stands in China and connects with the world, bringing together political and industry leaders, corporate experts, scholars and industry professionals from worldwide to discuss major topics about the tourism industry and share experiences. It offers effective roadmaps towards a sustainable future of the tourism industry and builds a high-level platform for exchange and cooperation that leads to economic growth.   The Forum marches towards advanced development after a decade of success in Macao Since the inaugural edition in Macao in 2012, GTEF has given play to the institutional advantages gifted by “One Country, Two Systems” and built a diverse and efficient platform for international tourism exchange and cooperation, committed to promoting the innovative and sustainable development of the tourism economy. The ten editions have greatly manifested the spirit of openness, cooperation and exploration, and garnered recognition from across the global cultural tourism industry. This April, GTEF and the World Tourism Organization (UNWTO) signed a Memorandum of Understanding on their elevated partnership in Lisbon, Portugal. As the signing of the MOU deepens collaboration between both parties, the Forum is dedicated to carrying on the past fruition and unveiling new chapters of global cooperation in tourism, economy, culture and other fields in the future.   A meaningful cake-cutting ceremony was held during the GTEF 10th Anniversary Lunch, officiated by Vice-Chairman of the National Committee of the Chinese People’s Political Consultative Conference and Chairman of GTEF, Ho Hau Wah; Secretary-General of UNWTO, Zurab Pololikashvili; Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Macao Special Administrative Region, Liu Xianfa; Minister of Tourism of Italy, Daniela Garnero Santanchè; Vice-Chairman of the All-China Federation of Industry and Commerce, Qiu Xiaoping; Vice Mayor of the Shanghai Municipal People’s Government, Liu Duo; Secretary for Economy and Finance of the Macao SAR Government and Executive Chairman of GTEF, Lei Wai Nong, and Vice Chairman and Secretary-General of GTEF, Pansy Ho. About 350 participants attended the lunch.   For more information about the GTEF, please visit www.gte-forum.com and follow its official social media channels for the latest news: https://www.facebook.com/gteforum https://www.linkedin.com/company/global-tourism-economy-forum https://twitter.com/gteforum http://weibo.com/gteforumWeChat ID: GTEForum 1. GTEF 10th Anniversary Lunch 2. Secretary for Economy and Finance of the Macao SAR Government and GTEF Executive Chairman, Lei Wai Nong, addresses the GTEF 10th Anniversary Lunch 3. Chair of the World Tourism Alliance and GTEF Honorary Chairman, Zhang Xu, delivers a congratulatory speech at the GTEF 10th Anniversary Lunch

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The opening ceremony of the 10th Global Tourism Economy Forum · Macao 2023 (GTEF or the “Forum”) took place at the Galaxy International Convention Center this morning (21 September). Over 1,500 leading figures from the global tourism industry and related sectors are invited to celebrate the 10th anniversary of GTEF together.   Prominent figures officiate the opening ceremony The guests who attended the opening ceremony of the 10th GTEF include Chief Executive of the Macao Special Administrative Region, Ho Iat Seng; Vice Chairman of the National Committee of the Chinese People’s Political Consultative Conference and Chairman of GTEF, Ho Hau Wah; Secretary-General of the World Tourism Organization (UNWTO), Zurab Pololikashvili; Minister of Culture and Tourism of the People’s Republic of China and Honorary Chairman of GTEF, Hu Heping; Director of the Liaison Office of the Central People’s Government in the Macao Special Administrative Region, Zheng Xincong; Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Macao Special Administrative Region, Liu Xianfa; Minister of Tourism of Italy, Daniela Garnero Santanchè; Vice Chairman of the All-China Federation of Industry and Commerce, Qiu Xiaoping; Vice Mayor of the Shanghai Municipal People’s Government, Liu Duo; Minister of Tourism of Brazil, Celso Sabino de Oliveira; Secretary-General of the Boao Forum for Asia, Li Baodong; Secretary for Economic Cooperation of the Ministry of Foreign Affairs of Maldives, Hussain Niyaaz; Secretary of State for Tourism, Commerce and Services of Portugal, Nuno Fazenda; Secretary of State for Tourism of Spain, Rosana Morillo; Secretary for Economy and Finance of the Macao SAR Government and Executive Chairman of GTEF, Lei Wai Nong; Secretary for Culture, Sports and Tourism of the Government of the Hong Kong Special Administrative Region, Kevin Yeung Yun-hung; Vice Chairman and Secretary-General of GTEF, Pansy Ho; Former Vice Minister of Foreign Trade and Economic Cooperation of China, Former Secretary-General of the Boao Forum for Asia and Honorary Chairman of GTEF, Long Yongtu; Chairman of the World Tourism Alliance and Honorary Chairman of GTEF, Zhang Xu; Vice Chairman and Secretary-General of the International Mountain Tourism Alliance and Honorary Chairman of GTEF, He Yafei, and President and Chief Executive Officer of the World Travel and Tourism Council and Honorary Chairman of GTEF, Julia Simpson.   Themed as “Destination 2030: Unlocking the Power of Tourism for Business and Development”, GTEF 2023 keeps abreast of new trends within the context of the United Nations’ 2030 Agenda for Sustainable Development. Gathering high officials, ministers of culture, tourism and other related sectors, industry leaders, decision-makers and scholars from around the world, the event navigates opportunities for recovery of the global tourism economy by “thinking beyond tourism”. Participants will discuss new ways of constructing a resilient, high-quality and people-oriented environment for the tourism industry in the new normal through innovative and sustainable international cooperation.   Guests deliver address at GTEF’s 10th anniversary Vice Chairman of the National Committee of the Chinese People’s Political Consultative Conference and Chairman of GTEF, Ho Hau Wah, indicated in his welcome speech that at this new juncture, GTEF shoulders the mission to rally the global cultural tourism industry here in Macao to facilitate high-quality cultural tourism development and contribute to sustainable tourism development worldwide.   Secretary-General of UNWTO, Zurab Pololikashvili, underscored in his opening speech, “The Global Tourism Economy Forum is set to be the premier platform for cooperation between Governments and the private sector in the area of tourism for development. By creating the ‘Davos of Tourism’, we can shape the course of the sector’s future around the pillars of jobs, education, innovation and investments.”   Minister of Culture and Tourism of the People’s Republic of China and Honorary Chairman of GTEF, Hu Heping, stated in his congratulatory speech that the Ministry of Culture and Tourism hopes to capitalize on the 10th GTEF to join hands with different countries to create a more open and inclusive environment for tourism development, continuously promote the further opening up of the tourism sector, make steady progress in facilitating people-to-people exchange, and keep improving inbound travel services.   Secretary for Economy and Finance of the Macao SAR Government and Executive Chairman of GTEF, Lei Wai Nong, delivered remarks on behalf of Macao as the host city at the opening ceremony. He expressed that as the global economy is on track for recovery and resurgence, it is especially meaningful for Macao to organize GTEF once again and celebrate its 10th anniversary. The Forum seeks to contribute to the development of the national and global tourism economy. It is also an occasion to share with members of the global tourism and related industries Macao’s steady progress towards resumption of tourism and economic activities, as well as the city’s comprehensive capabilities to organize conventions and exhibitions as the “Best Convention City (in Asia).” It also revealed that the tourism economy is an essential component in the progress towards recovery and sustainable development.   Minister of Tourism of Italy, Daniela Garnero Santanchè, delivered a speech on behalf of Italy as the Partner Country of GTEF. She said, “I am proud to be here to represent my country, Italy. We, the Italians, live in a small country, but full of timeless, unique and unforgettable beauties and traditions. We are home to 58 UNESCO World Heritage sites and represent one of the most popular tourist destinations in the world. We invite you all to use this special edition of the Forum to emphasize the valuable role of tourism in fostering cultural, social, and economic exchanges and synergies. Tourism is crucial to spread the values of peace and friendship among people from all over the world and is crucial to achieving the sustainable development goals.”   Vice Chairman of the All-China Federation of Industry and Commerce, Qiu Xiaoping, gave a congratulatory speech at the opening ceremony. He pointed out that over the past decade, GTEF has effectively functioned as a bridge that connects China's tourism industry with its foreign counterparts, facilitating international exchanges and cooperation in the cultural tourism industry. It has not only become an important platform conducive to the sustainable development of the global tourism economy but has also made notable contributions to the Macao SAR's economic diversification. The world is now at a time of unprecedented change, which places higher demands on the tourism industry: first, optimize the development environment and enhance the confidence of enterprises and consumers; second, reshape services and accelerate high-quality tourism development; third, strengthen international exchanges and promote win-win cooperation.   Representative of GTEF Featured City Shanghai and Vice Mayor of the Shanghai Municipal People’s Government, Liu Duo, remarked in her speech that looking into the future, Shanghai will further enhance communication and pragmatic cooperation with Macao for elevated synergistic development, and strengthen exchanges, mutual learning, communication and collaboration with the rest of the world for the sustainable development of the tourism industry, so as to boost economic growth and benefit people of all nations.   Other officiating guests at the opening ceremony include Chairman of the Pacific Asia Travel Association, Peter Semone; President of the China Chamber of Tourism, Ji Xiaodong; Deputy Secretary-General of the World Tourism Cities Federation, Yan Han; Executive Director of the European Travel Commission and Honorary Vice Chairman of GTEF, Eduardo Santander; President of the Macau Chinese Enterprises Association and Chairman of the Board of Nam Kwong (Group) Company Limited, Fu Jianguo, together with representatives of the GTEF’s leading partners and other personages.   Keynote speeches deliver visions for the tourism industry During the opening ceremony, Vice Chairman and Secretary-General of GTEF, Pansy Ho, delivered a setting-the-scene keynote speech on “Charting a Visionary Path: Unlocking Tourism’s Potential at the Global Tourism Economy Forum”. Then Former Vice Minister of Foreign Trade and Economic Cooperation of China, Former Secretary-General of the Boao Forum for Asia and Honorary Chairman of GTEF, Long Yongtu, made a keynote speech on “China & the World Towards a New Vision”, followed by a keynote speech on “Collaboration for Prosperity and Development” by President and Chief Executive Officer of the World Travel and Tourism Council and Honorary Chairman of GTEF, Julia Simpson.   Diverse sessions inspire new ideas The 10th GTEF features Italy as its Partner Country and Shanghai as the Featured City, which will unleash the potential of mutual cooperation between travel markets in China and the rest of the world. In addition to discussions and keynote speeches, the program features special interviews, case studies and casual fireside dialogues as a new highlight, with the aim to inject new ideas and momentum into the robust development of the global tourism economy, so that different destinations around the world can gain value from new opportunities and create better lives.   For more information about the GTEF, please visit www.gte-forum.com and follow its official social media channels for the latest news: https://www.facebook.com/gteforum https://www.linkedin.com/company/global-tourism-economy-forum https://twitter.com/gteforum http://weibo.com/gteforumWeChat ID: GTEForum   1. Group photo of guests at the 10th GTEF Vice Chairman of the National Committee of the Chinese People’s Political Consultative Conference and GTEF Chairman, Ho Hau Wah, delivers a welcome speech at the opening ceremony UNWTO Secretary-General, Secretary Zurab Pololikashvili gives an opening address Minister of Culture and Tourism of the People’s Republic of China and Honorary Chairman of GTEF, Hu Heping, delivers a congratulatory speech Secretary for Economy and Finance of the Macao SAR Government and GTEF Executive Chairman, Lei Wai Nong, gives the host city’s remarks at the opening ceremony Minister of Tourism of Italy, Daniela Garnero Santanchè, delivers a speech on behalf of Italy as the Partner Country at the opening ceremony Vice Mayor of the Shanghai Municipal People’s Government, Liu Duo, delivers a speech on behalf of Shanghai as the Featured City at the opening ceremony

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(September 20, 2023, Macao) The 2nd GTEF ∙ Investment and Financing Conference (GTEF ∙ IFC), organized by the 10th Global Tourism Economy Forum ∙ Macao 2023 (GTEF) in collaboration with Ivy Alliance Tourism Consulting Co., Ltd., was inaugurated today (20 September) at the Galaxy International Convention Center, lifting curtains upon the four-day program of GTEF.   Held on 20 and 21 September, the 2nd GTEF ∙ IFC convenes under the theme of “Innovation and High-Quality Development, Tourism Investment and Cooperation for the Next Decade”. Participants zero in on high-quality tourism development in China and examine key trends and emerging opportunities for tourism project development. By taking a close look at Macao, they also explore how the city can create a favorable environment for greater investment and expedite modern financial development.   The GTEF ∙ IFC opening ceremony was attended by Secretary-General of the World Tourism Organization (UNWTO), Zurab Pololikashvili, and Vice Chairman and Secretary-General of GTEF, Pansy Ho, together with other guests.   Four panel sessions zero in on tourism investment The program of GTEF ∙ IFC today (20 September) consists of four panel sessions on various topics and strategies about tourism investment.   In the “Panel Session 1: Redefining Tourism Investments: From Private Equity to Venture Capital Acceleration”, held in collaboration with UNWTO, the guests discussed innovations, changes and trends of tourism investment in the new market, as well as new opportunities for private equity and venture capital.   Moderated by President & CEO of Ivy Alliance Tourism Consulting Co., Ltd., Wang Xinjun, the “Panel Session 2: China’s Tourism Investment and Cooperation in the New Era” delved into the investment directions and opportunities for potential returns in the national tourism industry in the next few years, a market analysis of current trends and key regions, as well as local governments’ measures to attract investments in cultural tourism.   The “Panel Session 3: Discover Investment Opportunities – Investment Opportunities in Macao’s Cultural & Tourism, Cooperation Potential between Guangdong and Macao” was moderated by Professor of Integrated Resort and Tourism Management at the Faculty of Business Administration of the University of Macau, Davis Fong. In line with the Macao SAR Government’s “1+4” development strategy for adequate diversification, the panel session led a discussion on the immense potential brought by concerted development between Guangdong and Macao, as both join hands to build a new world-class economic region, foster regional economic integration and become a world-famous travel attraction, along with their collaboration in cultural tourism investment.   The last panel session, “Panel Session 4: Financing, M&A for Tourism Companies, Identifying Promising Tourism Projects in Different Fields – Finding Value and Managing Uncertainty”, was moderated by Senior Partner at T-identifier Think Tank, Ding Chongyang. Senior executives from tourism investment institutions, investment funds, tourism project operators and financial institutions were invited to share their analysis and insights into the investment potential of tourism projects across various types of businesses, as well as professional views and practical suggestions on tourism enterprises in terms of mergers and acquisitions, value discovery and evaluation, risk prevention and control, etc.   Business meetings for tourism financing and investment opportunities On the second day (21 September), GTEF ∙ IFC will feature presentations by investment institutions and chambers of commerce in Macao, followed by business meetings on tourism financing and investment in the afternoon to widen resources, facilitate industry exchange and create business opportunities.   March towards high-quality development in celebration of GTEF’s 10th anniversary The 10th Global Tourism Economy Forum ∙ Macao 2023, themed around “Destination 2030: Unlocking the Power of Tourism for Business and Development”, will be inaugurated tomorrow (21 September). In parallel with the United Nations’ 2030 Agenda for Sustainable Development, the event will gather high officials, ministers of culture and tourism, industry leaders, decision-makers and scholars from around the world to navigate opportunities for global tourism and economic recovery by “thinking beyond tourism”. The Forum will explore new ways of constructing a resilient, high-quality and people-oriented environment for the tourism industry in the new normal through innovative and sustainable international cooperation.   For more information about the GTEF, please visit www.gte-forum.com and follow its official social media channels for the latest news: https://www.facebook.com/gteforum https://www.linkedin.com/company/global-tourism-economy-forum https://twitter.com/gteforum http://weibo.com/gteforumWeChat ID: GTEForum 1. 2nd GTEF ∙ Investment and Financing Conference commences in advance to lift curtains upon the Forum 2. Panel sessions at GTEF ∙ IFC focus on tourism investment  

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